From Factory Floors to Stock Exchanges: Sona Machinery’s IPO Story ??

Sona Machinery Limited IPO Highlights:

1. IPO Dates:Opening Date: March 5, 2024Closing Date: March 7, 2024
2. Issue Details:The IPO aims to raise ?51.82 crores through a fresh issue of 3,624,000 shares.The price band for each share is set at ?136 to ?1431.The minimum lot size for an application is 1000 shares.

Company Profile:

1. Sona Machinery Limited, founded in 2019, specializes in manufacturing agricultural machinery. Their product range includes equipment for processing rice, pulses, wheat, spices, and Barnyard Millet.
2. Financial Snapshot:Profit: Detailed profit figures are not available in the provided information. However, investors can refer to the Sona Machinery IPO RHP for comprehensive financial details Year-on-Year Growth: Unfortunately, specific year-on-year growth data isn’t mentioned here. For a deeper analysis, prospective investors should explore the company’s financial reports. Sector: Sona Machinery operates in the agricultural machinery sector, contributing to India’s vital agri-processing industry.
3. Promoter Holding:The company’s promoters are Mr. Vasu Naren and Ms. Shweta Baisla.Pre-IPO Shareholding: The promoters currently hold 100% of the shares.Post-IPO Shareholding: After the IPO, their shareholding will be 73.59%1.
4. Fund Utilization:Sona Machinery plans to utilize the IPO proceeds for ---Funding working capital requirements --General corporate purposes
5. Listing and Tentative Dates:The IPO is expected to be listed on NSE SME with a tentative listing date of March 13, 20241.

Is It Good for Long-Term Investment?

Sona Machinery’s IPO presents an opportunity for investors to participate in the growth story of an agricultural machinery manufacturer. While the lack of specific profit and growth data is a limitation, the company’s focus on essential agri-processing equipment is promising. As with any investment, potential investors should carefully analyze the company’s financials, industry trends, and long-term prospects before making a decision.

Remember, investing involves risks, and it’s essential to consult with financial advisors and conduct thorough due diligence. Happy investing! ????